Loan Products

COMMERCIAL LOAN

Intended to fund capital for members who have existing medium to large scale business such as:

• Purchasing jeepney, UV Express
• Business Capitalization

Requirements:

• Original TCT (Transfer of certificate of Title/preferably residential or commercial lot) with in the area of operation
• Proof of income (Business permit/Barangay Permit/one (1) month latest payslip/Remittance/Bank Statement, OR/CR, letter of support of children with ID and payslip)
• Cedula (community tax certificate) of the member-borrower, spouse
• Valid ID of member and spouse
• ITR, Business permit, Certification from DTI or other proof of business registration
• Post Dated Checks
• Certified True Copy of the Title/Vicinity Map/Latest Tax Receipt/Tax Declaration and Tax Clearance
• Share Capital requirement: 10% of the total loan applied
• Special Power of Attorney if the lot offered collateral is not under the name of the borrower
• TIN ID of member and spouse
• Marriage Certificate (for married members)
• Appraisal fee

SUBJECT TO LOAN EXPOSURE

BUSINESS ASSISTANCE LOAN

To assist members in sourcing immediate funds for their businesses.

Credit Line:

• Maximum term six(6) months
• Must be Rating A
• MB should have an existing Collateralized Loan (TCT)
• PDC for payment
• Secured by REM
• Business permit

Check Rediscounting:

• Maximum term one (1) month
• Must be Rating A
• MB should have an existing Collateralized Loan (TCT)

PERSONAL LOAN

Provide financial assistance to members for any urgent cash crunch such as buying laptops, electronic gadgets, mobile devices; to finance oneself while looking for a job,(complying for job requirements)or any purpose for personal use.

1. Loan Against Deposit
2. Loan Against Koop Paluwagan
3. Loan Against Pension Savings
4. Loan Against Time Deposit
5. Pensioners Loan

For Rating A                          –         90% of Deposit

For Rating NM, NR, B          –         80% of Deposit

For Rating C                           –         70% of Deposit

TERM: Maximum of 60 mos.

INVESTMENT LOAN

For acquisition of properties or assets, property or memorial lot and other investment.

Requirements:

• Original TCT (Transfer of certificate of Title/preferably residential or commercial lot) with in the area of operation
• Proof of income (Business permit/Barangay Permit/one (1) month latest payslip/Remittance/Bank Statement, OR/CR, letter of support of children with ID and payslip)
• Cedula (community tax certificate) of the member-borrower, spouse
• Valid ID of member and spouse
• ITR, Business permit, Certification from DTI or other proof of business registration
• Post Dated Checks
• Certified True Copy of the Title/Vicinity Map/Latest Tax Receipt/Tax Declaration and Tax Clearance
• Share Capital requirement: 10% of the total loan applied
• Special Power of Attorney if the lot offered collateral is not under the name of the borrower
• TIN ID of member and spouse
• Marriage Certificate (for married members)
• Appraisal fee

SUBJECT TO LOAN EXPOSURE

INFRASTRUCTURE LOAN

Loan on house and building construction on staggered releases.

Requirements:

• Original TCT (Transfer of certificate of Title/preferably residential or commercial lot) with in the area of operation
• Proof of income (Business permit/Barangay Permit/one (1) month latest payslip/Remittance/Bank Statement, OR/CR, letter of support of children with ID and payslip)
• Cedula (community tax certificate) of the member-borrower, spouse
• Valid ID of member and spouse
• Certified True Copy of the Title/Vicinity Map/Latest Tax Receipt/Tax Declaration and Tax Clearance

Subject to Appraisal of Property:

• Post Dated Checks
• Special Power of Attorney if the lot offered as collateral is not in the name of the borrower.
• TIN ID of member and spouse (if married)
• Marriage Certificate for married members
• Building Plan (Blue Print), Specifications and Bill of Materials
• Building construction, Building Permit, Electrical Permit
• Certificate of Occupancy prior to full release of loan amount
• Staggered release

TRAVEL LOAN

To finance the travel/tripof the member whether is for leisure or for employment . Include in this product are:

• Ticket purchase
• Show money
• Travel and tour
• Placement fee

Loan Amount: P100, 000.00 and above

Term: Maximum 24 months

Requirements:

• Can be availed by Rating A members
• Proof of income (Business permit/Barangay Permit/one (1) month latest payslip/Remittance/Bank Statement, OR/CR, letter of support of children with ID and payslip)
• With 1 Co-maker
• House and lot owner
• For show money the net proceeds must be deposited at HCSCCO.

Subject for exposure policy

HEALTH AND WELLNESS LOAN

To provide for the payment of medical and surgical procedures and long-term treatment (i.e. Chemotherapy, heart by-pass operation, etc.)

PROVIDENTIAL LOAN

Loan to fund the use of member for the purpose of acquisition of assets and other expenses not used in business purposes, such as:

• Purchasing a car
• Minor improvement/renovation of house
• Renewal/Consolidation of loan

Term: Maximum 36 mos.

Subject for exposure policy

BALIK ESKWELA LOAN

A educational loan intended for public elementary/high school students.

Maximum Loan Amount: P3, 000.00

Term: Maximum 6 mos.

• Applies to members with Rating A or B.
• Members should not have arrears on their existing loan.

Requirements:

• Cedula (community tax certificate) of the member-borrower
• Certificate from the School/ letter from the Principal
• Subject to loan exposure policy

MICRO FINANCE LOAN

Intended for working capital and micro-enterprise, informal business.

• Market Vendors (wet & dry)

Term: Maximum 12 mos.

EDUCATIONAL LOAN

This loan shall be used to support the education of the members or their family members.

Term: Maximum 12 mos.

Requirements:

• School Assessment or Certification from School
• Proof of income( Business permit/Barangay Permit/one(1) month latest payslip/Remittance/Bank Statement)
• Cedula (community tax certificate) of the member-borrower, spouse and co-makers

Subject to loan exposure policy

HOSPITALIZATION & EMERGENCY ASSISTANCE LOAN (HEAL)

To provide emergency assistance fund in case of confinement and other emergency cases. It includes Emergency Loan.

MEMBERS ASSISTANCE LOAN

A short-term loan to finance the members need for payment of monthly bills responding to the needs of the member in occurrence of calamities and other purpose not intended for business such as:

• Utility Loan
• Calamity Loan
• Character Loan
• Micro-Finance Loan – other purposes

AGRICULTURAL LOAN

Loans used to finance agricultural production such as machinery, equipment, breeding livestock, development dairy, poultry, and fisheries.

CONDOMINIUM LOAN (as acquisition or collateral)

Share Capital requirement is 10% of approved loan amount.
Maximum terms of ten (10) years
For Annotation
With Fire Insurance
Can be availed by Rating A, B/NR/NM

MOTORCYCLE LOAN

Share Capital requirement must be at least 10% of approved loan amount
Maximum down payment of P3,000.00
Maximum term 3 years
Chattel mortgage will be use
Comprehensive insurance in favor of HCSCCO
Can be availed by rating A

MEMORIAL SERVICES LOAN

Share Capital must be at least P5,000.00 and must be covered by Mortuary and CLSP
Maximum loan of P50,0000.00 only
Can be availed by members with rating A, B/NR, C
Can availed by Senior Member thru Damayan

SALARY LOAN

Applies to all Employees both for public and private sector
Interest rate is 18% per anum @ diminishing method
At least with P5,000.00 Share Capital
Maximum term of 12 months
Maximum loan amount of P50,000.00
With MOA (for group application)

ASENSO LOAN

Maximum loan of P10,000.00
At least with P5,000.00 Share Capital
Can be availed by members without existing unsecured loan